US index 11 06 2021

The US dollar held it’s tight trading range with CPI m/m (Actual: 0.6%, Forecast: 0.4%, Previous: 0.8%) and Core CPI m/m (Actual: 0.7%, Forecast: 0.5%, Previous: 0.9%). Price action with US dollar was overall weak in the upwards direction topping out at 90.30 and then falling back down to the 90.00 support level. The Federal reserve is next meeting on the 16th of June and this will be interesting to look for commentary on any thing regarding tapering of the quantitative easing (QE). Risk sentiment is holding on and with the US dollar holding this tight trading range I will be waiting for a significant catalyst and this is which country will pull the trigger on easing QE and mentioning interest rates coming in focus sooner than expected.

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By Scott Andrews

Scott Andrews is an Australian based trend and swing trader using the daily, 4 hour and 1 hour time frames. He has previously worked in China as a performance coach for their Winter Olympic Team at the time refining his trading skillset. and runs a YouTube channel discussing his thoughts on markets as well as being the Account Manager (Australia) for ForexBriefcase. Recently Scott took on the role as Trading Coach for LCMS Traders.

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